USD/JPY (a 4-hour chart)
Traders counting on a break above the 100 level need to be patient.
The pair USD/JPY has approached the coveted level then has departed from it recently.
Senior analyst at CMC Markets, Michael Hewson suggests that the pair will pass the almost unattainable mark in the end.
Still it is unreachable at the moment. On Friday, the pair dropped significantly, having lost 150 points. The yen broke through the top of the Cloud and came close to its bottom.
USD/JPY is below the Kijun-Sen and Tenkan-Sen, the Kijun-Sen line is directed down, the Cloud is neutral.
Bollinger bands are expanding, the middle line is directed downwards.
The MACD histogram is in the negative zone.
Indicators suggest a short-term change of a direction.
USD/JPY is directed downward. If the pair comes out of Cloud and consolidates under it, we can speak about a possible trend change. If the pair consolidates under the Cloud, the first goal of the southern movement is 96.55.
The second scenario is a trading in the Cloud. This scenario is more vital, at least until May 2, the day the interest rates are published in Europe. In this case, the pair will trade in the corridor: 99.30 - 97.80.